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Jupiter (JUP), one of the largest DeFi protocols built on the Solana Blockchain, stands out by bringing together many important features under one roof. In this article, you can find answers to many questions such as what is Jupiter, which has been listed on Binance for trading, and where to buy the native asset JUP coin of the network.
What is Jupiter?
Although Jupiter was initially designed as a liquidity aggregator for token swaps similar to 1inch (1INCH) on Ethereum, it evolved shortly after and added GMX-style perpetual futures to the platform.
Jupiter has gone beyond being a liquidity aggregator by launching a decentralized stablecoin, sUSD. This transformed it into a platform offering a suite of features as a DeFi protocol on Solana. By highlighting the custody and regulatory risks of stablecoins like USD Coin (USDC) and Tether (USDT), Jupiter introduced sUSD, backed by Solana liquid stake tokens (LSTs), as an alternative.
sUSD offers a higher level of decentralization and interest-free loans. SOL used as collateral is utilized in minting sUSD and generates yield. This provides a continuous interest-free credit exposure to SOL.
JUP coin is a governance token that allows the community to participate in the management of the Jupiter platform. JUP coin is used for a variety of purposes, from transaction validation, enforcement of sanctions, to voting. As of January 31, 2024, the total supply of JUP coin is capped at 10 billion, with an initial circulating supply of 1.35 billion.
Where to Buy JUP Coin?
JUP coin can be securely traded on the leading cryptocurrency exchange Binance. JUP coin was listed on Binance on January 31, 2024, and can be traded in JUP/USDT, JUP/FDUSD, and JUP/TRY trading pairs.
To purchase JUP coin, one must first register on the Binance exchange, if not already a member. After completing the registration process, cryptocurrency or fiat currency such as Turkish Lira should be transferred to the account wallet on Binance. Once the transfer is complete, JUP coin can be purchased from any of the above trading pairs.
To buy from the JUP/USDT trading pair, one should first navigate to the interface of this trading pair. The desired amount to be purchased is entered in the limit tab on the trading pair interface. After entering the amount, the purchase is completed with the Buy JUP order.
